Groundsure updates ClimateIndex paltform transition risks Mortgage Finance Gazette

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Groundsure has updated key transition risk data related to climate change that it says may impact on property decisions.   

The climate data group ClimateIndex platform now includes information on property-specific energy performance certificate ratings, tailored guidance on energy improvement costs and, where relevant, flood mitigation costs.  

It adds that the software allows energy performance certificate rating comparisons with other properties in a local area.  

The business adds: “New regulations or requirements will, in time, continue the drive to make properties more energy efficient to meet future net zero requirements and to become more resilient to flood risk, through a range of retrofitting measures.”  

It points out that over the last decade, the software has highlighted several key trends, such as:  

  • The percentage of energy performance certificate homes rated C or better has improved from 31% lodged in 2014 to 58% lodged in 2023   
  • The biggest improvements in this area are in Liverpool, Manchester and Preston, with the lowest in the North East and Wales  
  • There is a correlation between higher house prices and energy performance certificate ratings, with east central London, east London and west central London being the areas with the highest average ratings, with areas in Wales and the South West lagging behind  

Groundsure chief executive Dan Montagnani points out: “Through our training and engagement with clients, it has been clear that information has to be actionable to ensure homebuyers can make informed, sustainable decisions.

“This is especially the case with Transition Risks. It’s not enough to just provide an energy performance certificate rating, you need context and guidance.”   

“This is why, at a property-specific level, we now ensure homebuyers can weigh up the rating, relative to other similar properties in the area and assess how retrofitting to reduce energy costs or improve flood resilience will make the property more attractive or unlock better insurance or mortgage rates.”